Announcing Partnership of Node A-Team & Band Protocol

We are happy to announce that we will be supporting Band Protocol, a leading decentralized oracle framework, as a validator node.

Band Protocol is a decentralized cross-chain oracle that has enabled real-time data requests with end-to-end flexibility for developers of smart contracts to specify, aggregate, and connect to any external data source or API. The oracle project is backed by Sequoia Capital, a top-tier venture capital firm and Binance, the leading cryptocurrency exchange.

Built with the Cosmos-SDK, Band Protocol will support data oracles across various blockchains. We are very pleased to support Band Protocol’s long-term growth by sharing our expertise in the Cosmos-SDK as a long-term, highly secure validator and extensive network in Korean blockchain space.

Why did we choose Band Protocol?

Blockchains cannot communicate outside their native network, meaning that for any decentralized application that requires the usage of real-world data, it must rely on an accurate and trustworthy decentralized data oracle solution. Band Protocol will enable developers to have access to high quality data that can leverage flexibility to fine-tune oracles that are free from manipulation, in a convenient, reliable and secure manner.

We also believe that Band Protocol’s novel oracle solution will impact the security of the blockchain ecosystem significantly and bring blockchain services closer to mass adoption. Here are some reasons why we chose to support Band Protocol:

• Customizable Oracle Scripts
  Band Protocol allows dApp developers to define and use data in the way that they desire to fit the needs of the application that they are working on. From time-weighted basis to medianized data, developers are free to choose the method and sources which they prefer.
• Cross-Chain Compatibility & IBC
  Utilizing Inter-blockchain Communications, also known as IBC, a core innovation of Cosmos, or bridge contracts, Band Protocol is able to connect to any other blockchain. Multiple partnerships between Band and other blockchains have already been established to show a promising future.
• High Quality Data
  With Band Protocol, querying data from traditional open API in an on-demand basis becomes possible. In the future, users will also be able to access high-quality, permissioned oracle data from private APIs by making cross-chain payments through validator network like us. We are glad to support this on-going implementation with the Band Protocol team.
• Healthy Staking Economics
  Band Protocol adopts a delegated-proof-of-stake consensus, much like that of Cosmos. To source and gather data for smart contracts, data validators must stake BAND tokens, as Band is a decentralized oracle network. This results in validators to receive staking incentives by maintaining data integrity, leading to a win-win for both validators and Band Protocol.

“To make decentralized applications become really useful, the real-world data which is used within those applications must be trustworthy and accurate. We are confident that Band Protocol will set a new standard for decentralized data oracle design leveraging their ability to meet real-time data requests and end-to-end customizability.”
- Jeeuk Lim, Operations & Communication Manager of Node A-Team

About Band Protocol

Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
Website | Whitepaper | Telegram | Medium | Twitter | Reddit | Github

About Node A-Team

Node A-Team is a top-tier dPoS validator service based in South Korea with the record of winning awards from incentivized testnets, including Game of Stakes. Node A-team has been focused on creating the most efficient and secure infrastructure since 2018, especially for Cosmos-SDK and Tendermint-based chains, to allow anyone to safely delegate their crypto assets without the risk of downtime or slashing. Currently, Node A-Team is a validator for 9 different blockchains including Band Protocol.
Website | Medium | Twitter